September 20, 2019
The Export-Import Bank’s charter is currently set to expire on September 30. If authorization lapses, the agency will shut down. On Thursday, the House passed a continuing resolution (CR) to fund the government through November 21—specifically including Ex-Im. The Senate will likely pass it next week. This means the Ex-Im fight could drag on for an additional seven weeks, and possibly longer.
September 19, 2019
Nobel laureate economist Ronald Coase wrote in his 1975 essay “Economists and Public Policy” that “An economist who, by his efforts, is able to postpone by a week a government program which wastes $100 million a year (which I would call a modest success) has, by his action, earned his salary for the whole of his life.” By Coase’s measure, the Ex-Im fight that began in 2014 was an enormous success, despite the coming reauthorization setback.
September 11, 2019
Earlier this year, the Trump administration issued an executive memorandum directing the Department of the Treasury to “develop a plan for administrative and legislative reforms” of Fannie Mae and Freddie Mac—the two government-sponsored enterprises (GSEs) at the core of the 2008 housing crisis. Specifically, the memo emphasized that such proposed reforms should focus on “facilitating competition in the housing finance market.”
September 10, 2019
The Export-Import Bank is up for reauthorization by September 30. It should be shut down, as I’ve pointed out before, but reauthorization will almost certainly pass. Ex-Im was either shut down or sharply limited for nearly five years, from October 2014 until May of this year.
September 6, 2019
Our old friend (and former Competitive Enterprise Institute journalism fellow) Tim Carney is doing excellent work at the American Enterprise Institute these days, where he is shining a light on the huge costs and breathtaking unfairness of corrupt government handouts to private parties—what we call cronyism.
September 3, 2019
While the continued legalization of recreational and medicinal use of marijuana at the state level has undoubtedly been a win for liberty, there remains much work to do as to normalize the burgeoning marijuana industry in the broader legal and economic fabric of the nation.
August 20, 2019
Debt collecting is a profession that gets little love, but given the social good done by debt collectors who operate ethically and follow the rules, maybe it’s time that we show them some affection. If not that, we should at least give them reasonable rules to play by—rules that would also benefit consumers and entrepreneurs who participate in the credit market.
July 26, 2019
Our friends at the Cato Institute recently hosted an excellent discussion on financial opportunity and inclusion titled “How Credit Is Reaching Underserved Communities,” featuring an impressive panel of experts, including CEI board member Todd Zywicki of George Mason University.
July 11, 2019
In advance of his testimony yesterday before the House Financial Services Committee, Federal Reserve Chairman Jerome Powell was the subject of a front-page story in The Wall Street Journal that touted his supposedly good relations with lawmakers of both parties. “Powell’s Support Inside Congress Is Deep,” read the Journal headline in the print edition.
June 20, 2019
The Fair Debt Collection Practices Act (FDCPA) was passed in 1977, over forty years ago, at a time when telecommunication technology was in its infancy and the consumer Internet did not exist. Since that time, the technology used to communicate with customers has changed drastically. As one might suspect, the FDCPA has not kept up with these dramatic changes.